November auto sales likely to rise 21%
What's the story
India's automobile sector is gearing up for a strong performance in November, with all segments expected to witness positive volume momentum. According to a CNBC-TV18 poll, commercial vehicle demand is witnessing a significant uptick. Meanwhile, passenger vehicles and two-wheelers are seeing improved enquiry-to-conversion rates following GST cuts. The increased number of marriage dates this month is also expected to boost retail activity.
Market trends
Passenger vehicle volumes to remain elevated
Analysts predict that passenger vehicle volumes will continue to be high due to a backlog of bookings and low inventory at dealerships. The demand for two-wheelers is also expected to remain strong through November 2025. Nomura forecasts a growth of 21% in passenger vehicles, 15% in two-wheelers, and 20% in medium and heavy commercial vehicles for the month.
Sales forecast
Two-wheeler sales to rise in November
Bajaj Auto's two-wheeler sales are likely to increase by 8% YoY to 4.5 lakh units from 4.22 lakh units last year. Hero MotoCorp's sales are expected to jump by a whopping 29% to 5.95 lakh units from figure of 4.60 lakh units. TVS Motor is likely to witness a significant growth of 22% to 4.90 lakh units from 4.01 lakh units, while Royal Enfield is expected to record a 29% increase to 1.06 lakh units from 0.82 lakh units.
Auto market
Four-wheeler segment also sees growth
In the four-wheeler segment, Maruti Suzuki's sales are expected to grow by 17% YoY to 2.13 lakh units from last year's figure of 1.82 lakh units. Hyundai is likely to see a smaller but still positive increase of about 7% in its sales this month. M&M Auto's sales are expected to witness a major jump of about 22%, while Tata Motors is likely to report a 16% rise in passenger vehicle sales and a 17% increase in commercial vehicle volumes.